News: The Olsens Collaborate with Sephora; Betsey Johnson Scores a Reality Show

Come March, Mary-Kate and Ashley Olsen's line Elizabeth & James will debut a new fragrance at Sephora. {Grazia Daily}

There were cameras at Betsey Johnson's runway show and 70th birthday party, as the designer will be appearing in a Style Network reality TV show with her daughter, Lulu. {Hollywood Reporter}

The theme of the Metropolitan Museum of Art's Costume Institute next May will be "Punk: Chaos to Couture." Said Costume Institute curator Andrew Bolton, "Punk broke all rules when it came to fashion, and everything became possible after punk. Its impact on high fashion became so enormous, and continues at the same time." {WWD}

Naeem Khan is being sued by two fabric merchants in Manhattan and Switzerland, who claim that he owes them $10,521 worth of bolts of satin and a Santorini print. {New York Daily News}

While Deborah Needleman had been offered the editor in chief role at T: The New York Times Style Magazine, it has yet to be confirmed if she will take it. {WWD}

A senior publicist is suing a French magazine editor for $1 million. The editor slapped her at Zac Posen's spring 2013 show over a seating arrangement argument. {Telegraph}

Congratulations to Adriana Lima, who has given birth to her second child! {Huffington Post}

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